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Dec 4, 2012
12/12
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caller: looking at the fiscal cliff, we go back to 2001 with the lowering of the tax rates, meant to create jobs. but in the past 10 or 11 years, we have not had any job creation whatsoever. we keep going back and hearing over and over again that it's going to cost jobs. we do not have jobs to begin with. businesses are out to make money. if consumers do not have money to spend, then you can lower their taxes to 0%. they still cannot spend because they do not have any income. guest: i think that is a great point. it brings up one thing we have not mentioned yet. the payroll tax cut is about to expire. if that expires, every paycheck in the country is going to go down about $1,000 on january 1st. that would hurt consumption. it would hurt the customers of businesses. the president has proposed to extend that. i think that is reasonable. we will see a firm public and keep up their opposition or they give in. we have a sleeper here that cannot be ignored. if we do not extend that, every paycheck in the country is going to go down. guest: i agree. we should extend that for another year.
caller: looking at the fiscal cliff, we go back to 2001 with the lowering of the tax rates, meant to create jobs. but in the past 10 or 11 years, we have not had any job creation whatsoever. we keep going back and hearing over and over again that it's going to cost jobs. we do not have jobs to begin with. businesses are out to make money. if consumers do not have money to spend, then you can lower their taxes to 0%. they still cannot spend because they do not have any income. guest: i think...
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Nov 30, 2012
11/12
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. >> facing the prospect of going over the fiscal cliff or extending the lower tax rate and at the upper one, which would you choose? >> i will do everything i can to avoid putting the american economy and the american people through the fiasco of going over the fiscal cliff. [indiscernible] >> as i told the president a couple of weeks ago, there are a lot of things i have wanted in my life, but almost all of them had a price tag attached to them. if we're going to talk about the debt limit in this, there will be some price tag associated with it. >> are you standing by the dollar-for-dollar on spending cuts? >> i continue to believe that any increase on the debt limit has to be accompanied with spending reductions that meet or exceed it. or exceed it. >> thursday house minority leader nancy pelosi democrats are prepared to vote for middle class tax cuts for 98% of americans. these remarks came after democratic leaders came -- met. >> this doesn't have to be a cliff hanger. the president has his pen poised to sign a middle income tax cut. it has passed the senate and house democrats are
. >> facing the prospect of going over the fiscal cliff or extending the lower tax rate and at the upper one, which would you choose? >> i will do everything i can to avoid putting the american economy and the american people through the fiasco of going over the fiscal cliff. [indiscernible] >> as i told the president a couple of weeks ago, there are a lot of things i have wanted in my life, but almost all of them had a price tag attached to them. if we're going to talk about...
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Oct 11, 2012
10/12
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when we look at arizona and the unemployment rate, the housing prices, the fiscal cliff, it's extremely. amid all of that, there is opportunity for us to grow. we have to look at this in short-term and long-term. what is it that we can do to bring jobs right now? what we have to do it is provide incentives to be able to get small business started again. we have to be able to look it infrastructure needs. one of the challenges as i have travelled around the state and i have gone to the old williams air force base. i have gone to the other air force base. i hear from the businessmen, we need infrastructure. what they tell me is, congressman flake is not available because he believes these things are bad. i think we ought to be doing is working with business to create infrastructure to make arizona the most attractive place to live and people will come with their ideas and business will grow. even the mayor of mesa, who is a republic has said to me, we cannot depend on congressman flake. i will be there to provide that help to build infrastructure. >> respond, please. >> i will give him th
when we look at arizona and the unemployment rate, the housing prices, the fiscal cliff, it's extremely. amid all of that, there is opportunity for us to grow. we have to look at this in short-term and long-term. what is it that we can do to bring jobs right now? what we have to do it is provide incentives to be able to get small business started again. we have to be able to look it infrastructure needs. one of the challenges as i have travelled around the state and i have gone to the old...
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Dec 4, 2012
12/12
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i think that fiscal cliff is just a big red herring. your district has the shortest life span in the country for women. the infant mortalithighest infay rate in the country. we follow mississippi. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party -- come and look at your district. guest: i would be delighted to have people come and look at my district and then it is 14,000 farms and ranches with two military installations. 5 colleges and universities. 11 indian tribes. the best college football team in america. it is a very special place. i would argue with your statistics. i just won reelection with 68% of the vote. having said all that, the idea that the paul ryan budget is about getting rid of social programs is ntot so. it is about saving them. these programs are going bankrupt. all are going to have to be reformed. if the president gets every tax increase he is asking for, let's just assume that he did, it would not come close to solving the budgetar
i think that fiscal cliff is just a big red herring. your district has the shortest life span in the country for women. the infant mortalithighest infay rate in the country. we follow mississippi. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party -- come and look at your district. guest: i would be delighted to have people come and look at my district and then it is 14,000 farms and ranches with two military...
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Nov 16, 2012
11/12
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we have the fiscal cliff where tax rates are going to go up for almost every american, wage earner, if congress fails to act. we have sequestration which is a measure which will be the equivalent of a chainsaw going through the government cutting .2% from every budget, whether it's defense, nondefense issues. we have a farm bill which needs to be acted upon. we have, again, the 2008 farm bill which is a five-year measure that's expired and it's critical for rural america that we need to renew the farm bill and to give one small example, which the dairy industry has reminded people that the price of a gallon of milk started in january could potentially go as high as $7 billion if we don't, again, restore and re-authorize the system of price supports that we have in our dairy industry. the violence against women act expires. again, a critical measure so that law enforcement officials all across the country can continue the progress that we're making in terms of the issue of domestic violence and violence against children. again, the list goes on and on. and incredibly, despite the fact t
we have the fiscal cliff where tax rates are going to go up for almost every american, wage earner, if congress fails to act. we have sequestration which is a measure which will be the equivalent of a chainsaw going through the government cutting .2% from every budget, whether it's defense, nondefense issues. we have a farm bill which needs to be acted upon. we have, again, the 2008 farm bill which is a five-year measure that's expired and it's critical for rural america that we need to renew...
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Dec 6, 2012
12/12
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cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons' ceiling, and they could do this anytime. there would not have to go back to congress. -- they would not have to go back to congress. guest: it is true that technically the administration can do some things without even the congress's approval, but it would not be a lasting solution. let's say you could freeze the amount of withholding that you pay three paycheck at the level it was this year, for the 98%, and increase withholdings for everyone else as the law would dictate if you read over the cliff. -- went over the cliff. but the 98%, if they did not actually pass a law to extend the tax cuts for tha
cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons'...
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Dec 3, 2012
12/12
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if we go off the fiscal cliff and congress doesn't take any action to soften the blow, tax rates will go up quite a lot on dividends, from 15% to more than 40% in most circumstances. there are economists who think that will have a big impact on stock markets and they could go down 10%, maybe 20%. i do not think those effects are as strong as some economists believe. i think it is something the market could get over. you're in a long term tax and vanished savings situation. i think you are basically going to be fine unless you're planning on retiring release soon. i do think that is something you have to keep in mind. diversification out of the assets that are most affected by these kinds of taxes is probably never a bad idea. host: john mckinnon is a reporter for "the wall street journal." he is now in the washington bureau. he was a columnist for "the miami herald." what sectors would be hit harder if deductions and loopholes or taken out of the tax code? guest: the stocks that pay a high dividend. these tend to be utility stocks. there are lots of old, established, u.s. industrial f
if we go off the fiscal cliff and congress doesn't take any action to soften the blow, tax rates will go up quite a lot on dividends, from 15% to more than 40% in most circumstances. there are economists who think that will have a big impact on stock markets and they could go down 10%, maybe 20%. i do not think those effects are as strong as some economists believe. i think it is something the market could get over. you're in a long term tax and vanished savings situation. i think you are...
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Aug 20, 2012
08/12
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governor dean said that we need this fiscal cliff. it is a whole separate issue. >> it is now 6:36, we were going to finish at 6:30. i would like to go to 6:45, is that ok with you? let's take a couple of questions. led the have a question from here and perhaps a question from back there? if that is ok with the panel. >> you just brought up part of my question. we have been talking about this cliff but what happens if congress does not do anything? what if we do not try to shut it off of a cliff? what is the worst in happens if -- stays levels days wettes where it is. >> if congress does nothing, you go off the cliff. >> if congress does just enough to not go off a cliff, but not enough to slash it down -- >> let's take another question. i have a health insurance customers. it frustrates me when i see -- i do not think business has taken the opportunity under the affordable care at, and states to do not want to put up these insurance exchanges, it would seem to me that business has missed a great opportunity to say, we want to be out
governor dean said that we need this fiscal cliff. it is a whole separate issue. >> it is now 6:36, we were going to finish at 6:30. i would like to go to 6:45, is that ok with you? let's take a couple of questions. led the have a question from here and perhaps a question from back there? if that is ok with the panel. >> you just brought up part of my question. we have been talking about this cliff but what happens if congress does not do anything? what if we do not try to shut it...
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Nov 20, 2012
11/12
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what are three revenue-raising provisions that a pledge synar can vote for in a fiscal cliff resolution? >> sure, the top tax shrimp -- marginal rate from 35 down to 25 you would have great supply-side effects. european average is 25. we are at 35. the canadians are at 17. the and hemorrhaging cash. they are doing that. lower marginal tax -- tax rates, lower capital gains. obama taking the best tax up to 55% after a million dollars -- death tax up. you do not have to be rich to find a house increasing the value, the money saved up in a 401k. supply-side tax deduction account. selling assets -- you talk about the defense department's sitting on a whole bunch of spectrum that it bought at to make available. a lot of assets you can sell. there is land you consult. a whole bunch of oil and the ground if obama gets out of the way of drilling on federal land rather than making it difficult. drilling for oil and natural gas on federal land has declined under obama. he says, look at all of this new drilling and natural gas. on private land where you cannot stop it yet. that is true. but taking
what are three revenue-raising provisions that a pledge synar can vote for in a fiscal cliff resolution? >> sure, the top tax shrimp -- marginal rate from 35 down to 25 you would have great supply-side effects. european average is 25. we are at 35. the canadians are at 17. the and hemorrhaging cash. they are doing that. lower marginal tax -- tax rates, lower capital gains. obama taking the best tax up to 55% after a million dollars -- death tax up. you do not have to be rich to find a...
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Dec 7, 2012
12/12
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if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time for a couple more calls in this segment of the "washington journal," we will continue the unemployment insurance discussion in the following segment. laura is in louisville, kentucky, on the independent line. caller: good morning. what bothers me is when people say they actually can not find work and they have been on unemployment for 20 months, whatever they can get, and i will tell you my husband lost his job five years ago. he was with a company for 23 years. immediately we went into survival mode. we thought about what we could do to reduce bills, simplify our lifestyle in case he could not find
if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time...
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Sep 14, 2012
09/12
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we will be dynamicking and fiscally healthy. there's the real fiscal cliff. what we've done, we've taken the focus and here's short term again and the real problems are all long term. their manifestation comes into short term. they will be much greater in two years now+i if we don't send the signal that we're going to take care of the long term problems, we can fix the fiscal cliff, but it's not going to matter a year from now. interest rates will be around 6%. it's a perfect political strategy to take our eye off what the real ball is. social security is not hard to fix. medicare is very difficult to fix. but it can be fixed. the healthcare decision is a whole other discussion that you can have five societies and not cover it. i thinkçó there's a lot of emphasis on it. i want to remind you, that's all short term thinking. that's all 17 and 18 months or less thinking. we need to be thinking three, four or five years. the short term will take care of itself. if you thinkñr there's any probm with us, if we actually had a solution for medicare tomorrow, you t
we will be dynamicking and fiscally healthy. there's the real fiscal cliff. what we've done, we've taken the focus and here's short term again and the real problems are all long term. their manifestation comes into short term. they will be much greater in two years now+i if we don't send the signal that we're going to take care of the long term problems, we can fix the fiscal cliff, but it's not going to matter a year from now. interest rates will be around 6%. it's a perfect political strategy...
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Dec 15, 2012
12/12
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what is it drives home to me is that when we're talking about these fiscal cliff discussions, if the rates are simply raised, especially on the more well-to- do people, they can afford to hire smart people like this gentleman to figure out deductions and ways that they do not have to pay those rates. it seems to me that simply increasing the rates on wealthy people and thinking that is going to raise money seems to be a false promise. i think the approach of reducing deductions will wind up generating more money. guest: i think you could be absolutely right about that. there are lots of ways that we have tax breaks. deductions are not really the biggie. the big one is exclusions, things that we get that are not taxed in the first place. employer-provided health insurance is the huge one. right now, our employers pay $20,000 for health insurance for us and we are not taxed for that. this is the kind of thing they are looking at. if you look at the erskine bowles commission report, it is unbelievable, the revenue raisers that there in that report. it will raise a lot of money and close
what is it drives home to me is that when we're talking about these fiscal cliff discussions, if the rates are simply raised, especially on the more well-to- do people, they can afford to hire smart people like this gentleman to figure out deductions and ways that they do not have to pay those rates. it seems to me that simply increasing the rates on wealthy people and thinking that is going to raise money seems to be a false promise. i think the approach of reducing deductions will wind up...
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Nov 9, 2012
11/12
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john boehner says any deal to avert the so-called fiscal cliff should include lower tax rates, eliminating the special interest the polls, and revising the tax code. boehner said also in this store that he had a brief conversation with the president earlier this week, as the chief executive and congressional leaders negotiate a way to avoid the fiscal cliff, and as we heard from the president, he has invited the congressional leaders to the white house next week to get to work on this. will in albuquerque, go ahead. caller: i like what the president spoke about, but i got to get this off my head. boehner, what are you doing? c'mon, man. work with the president. you always want to say you are working with the present, but you are just spinning the wheels as a republican, and i honestly i did not understand that. we own a small business in albuquerque, and his thing about this to and $50,000 a year type thing, spending and losing jobs it for business is ridiculous, and i personally believe that if boehner does not get off his butt and start working with the democrats, he is making himself lo
john boehner says any deal to avert the so-called fiscal cliff should include lower tax rates, eliminating the special interest the polls, and revising the tax code. boehner said also in this store that he had a brief conversation with the president earlier this week, as the chief executive and congressional leaders negotiate a way to avoid the fiscal cliff, and as we heard from the president, he has invited the congressional leaders to the white house next week to get to work on this. will in...
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Oct 13, 2012
10/12
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when we look at arizona and the unemployment rate, the housing prices, the fiscal cliff, it's extraordinary. amid all of that, there is opportunity for us to grow. we have to look at this in short-term and long-term. what is it that we can do to bring jobs right now? what we have to do it is provide incentives to be able to get small business started again. we have to be able to look it infrastructure needs. one of the challenges as i have travelled around the state and i have gone to the old williams air force base. i have gone to the other air force base. i hear from the businessmen, we need infrastructure. what they tell me is, congressman flake is not available because he believes these things are bad. i think we ought to be doing is working with business to create infrastructure to make arizona the most attractive place to live and people will come with their ideas and business will grow. even the mayor of mesa, who is a republic has said to me, we cannot depend on congressman flake. i will be there to provide that help to build infrastructure. >> respond, please. >> i will give him th
when we look at arizona and the unemployment rate, the housing prices, the fiscal cliff, it's extraordinary. amid all of that, there is opportunity for us to grow. we have to look at this in short-term and long-term. what is it that we can do to bring jobs right now? what we have to do it is provide incentives to be able to get small business started again. we have to be able to look it infrastructure needs. one of the challenges as i have travelled around the state and i have gone to the old...
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Nov 28, 2012
11/12
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and the fiscal cliff. the duty is, we do have a lot of common ground. we all believe we should extend the tax cuts for 98% of americans and 97% of small businesses. we should be building on that common ground not arguing over semantics. mr. yarmuth: i'm confident there are more republicans like congressman tom cole who have come to the real sargse that ewe can and must provide security for middle class families immediately. as my democratic colleagues and i have been say, that's easy. we should pass the senate bill to extend the current tax rates for middle class and small businesses. too often in washington we confuse principles and policies. certainly the difference between asking the wealthy by raising their tax rate and cutting out tax breaks can't be too different. i urge my colleagues to bring the senate bill to the floor for a vote. the speaker pro tempore: for what purpose does the gentleman seek recognition? >> i ask permission to address the house to address the house for one minute. the speaker
and the fiscal cliff. the duty is, we do have a lot of common ground. we all believe we should extend the tax cuts for 98% of americans and 97% of small businesses. we should be building on that common ground not arguing over semantics. mr. yarmuth: i'm confident there are more republicans like congressman tom cole who have come to the real sargse that ewe can and must provide security for middle class families immediately. as my democratic colleagues and i have been say, that's easy. we should...
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Dec 14, 2012
12/12
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the only thing that i would add is what makes this so critical in the fiscal cliff discussion is that we are talking about the patch for the 2012 taxable year, unlike the rest of the fiscal cliff which effects rates thatthe patch applies for returns we file early next year. if there is no congressional action, there is an abrupt increase in tax on the 2012 taxable year. in 2011, approximately 4 million people paid the amt. if there is not a patch, 30 million people will be required to pay the amt in 2012, and they will pay an additional $90 billion in tax. very few of them have any idea this is on the table. host: is the irs prepared? guest: the irs is fairly unusual, but in a correct position, that congress will do the responsible thing -- they took the position that congress they assumed congress will enact a package before the end of the year, and i think that was the reasonable thing to do because i believe they will do that. however, it does mean if there is not a patch of the tax return filing season next year will be quite chaotic. >> you can find the entire interview online. e
the only thing that i would add is what makes this so critical in the fiscal cliff discussion is that we are talking about the patch for the 2012 taxable year, unlike the rest of the fiscal cliff which effects rates thatthe patch applies for returns we file early next year. if there is no congressional action, there is an abrupt increase in tax on the 2012 taxable year. in 2011, approximately 4 million people paid the amt. if there is not a patch, 30 million people will be required to pay the...
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Nov 12, 2012
11/12
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later, lindy paull will discuss tax rates and the fiscal cliff. [video clip] >> i enjoyed watching book tv. c-span provides end-to-end coverage of events. c-span is a great way to get an unfiltered view of the day's events. hills watches c- span on comcast. >> 2013 should be the year that we begin to resolve our debt through tax reform and the entire region entitlement reform. i suggest we move through the fiscal cliff together, that this be the year that our government comes to grips with the problems facing us. to new ideas, committed to solving our fiscal challenges, but i refuse to accept any approach that is not balanced. i will not be asking students, seniors, and middle-class families to pay down the entire deficit but people like me, being paid $250,000, are not asked to pay one dime more in taxes. >> work is expected on the impending fiscal cliff in this typically referred to as a lame duck session, with planned cuts spending, also known as sequestration. follow all of the debates and tuesday, with live house coverage. >> "washington jour
later, lindy paull will discuss tax rates and the fiscal cliff. [video clip] >> i enjoyed watching book tv. c-span provides end-to-end coverage of events. c-span is a great way to get an unfiltered view of the day's events. hills watches c- span on comcast. >> 2013 should be the year that we begin to resolve our debt through tax reform and the entire region entitlement reform. i suggest we move through the fiscal cliff together, that this be the year that our government comes to...
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Nov 8, 2012
11/12
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john boehner seemed more open to the idea of allowing more revenue, the rate increases on fiscal cliff issue. i think the president, and i know his left wing, is certainly holding him to the pledge on the campaign trail that he will let the proper rate expire at the end of the year and intends to hold his own in arguing for that. host: margaret talev, that brings up the mandate question. does he say what george w. bush said, i have political capital and i intend to spend it? guest: if you have it, use it, or what other people say it for you. right now, president obama's game is not to come out of the box, acting takeda, and give republicans -- acting cocky and giving republicans an idea -- a reason to want to stick it to him. he is saying let's get this done. that is what he is serious about, there is no reason to set yourself up as having more leverage than you do. host: margaret talev, and the go to this headline in bloomberg. what does he do on his health care law, if anything? guest: so, it really is a little bit of the congress, and this will play out in fiscal cliff and debt redu
john boehner seemed more open to the idea of allowing more revenue, the rate increases on fiscal cliff issue. i think the president, and i know his left wing, is certainly holding him to the pledge on the campaign trail that he will let the proper rate expire at the end of the year and intends to hold his own in arguing for that. host: margaret talev, that brings up the mandate question. does he say what george w. bush said, i have political capital and i intend to spend it? guest: if you have...
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Dec 5, 2012
12/12
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the only thing i would add is the package, what makes this so critical in the fiscal cliff discussion, is we are talking about the past for the 2012 taxable year. -- unlike the rest of the fiscal cliff which effects rates that will apply next year. the patch applies for returns we file early next year. if there is no congressional action, there is an abrupt increase in tax on the 2012 taxable year. in 2011, approximately 4 million people paid the amt. if there is not a patch, 30 million people will be required to pay the amt in 2012, and they will pay an additional $90 billion in tax. very few of them have any idea this is on the table. host: is the irs prepared? guest: the irs is fairly unusual, but in a correct position, that congress will do the responsible thing -- they took the position that congress will do the responsible thing. they assumed congress will enact a package before the end of the year, and i think that was the reasonable thing to do because i believe they will do that. however, it does mean if there is not a patch of the tax return filing season next year will be q
the only thing i would add is the package, what makes this so critical in the fiscal cliff discussion, is we are talking about the past for the 2012 taxable year. -- unlike the rest of the fiscal cliff which effects rates that will apply next year. the patch applies for returns we file early next year. if there is no congressional action, there is an abrupt increase in tax on the 2012 taxable year. in 2011, approximately 4 million people paid the amt. if there is not a patch, 30 million people...
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Dec 16, 2012
12/12
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fiscal cliff negotiations. if you would like to talk with matt kibbe, here are the phone numbers. "washington post" says the search begins. the rejection of strategy? what was it? guest: did we debate ideas in 2012? we have a longer conversation about whether or not met romney put the family dog on the roof of his car than we did about health care or taxes. 2012 was almost an issue this debate. we did not debate the big issues like we did in 2010. what does this mean? republicans win when the run on something and not just to get something? and they lose when they tried to run an issueless campaign that comes down to a beauty contest. i hate to say this, but we do not win beauty contests. host: let's talk about the tea party is power in washington and who you have thrown your support behind recently. they have lost power in the house when they have decided committee assignments. where does that put you? how was that something you're dealing with right now? guest: did fairly hostile act by leadership. it is quite
fiscal cliff negotiations. if you would like to talk with matt kibbe, here are the phone numbers. "washington post" says the search begins. the rejection of strategy? what was it? guest: did we debate ideas in 2012? we have a longer conversation about whether or not met romney put the family dog on the roof of his car than we did about health care or taxes. 2012 was almost an issue this debate. we did not debate the big issues like we did in 2010. what does this mean? republicans win...
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Nov 14, 2012
11/12
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i have outlined a framework for how both parties can work together to avert the fiscal cliff without raising tax rates and through a combination of pro-growth tax reform and entitlement reform, we can bring jobs home and make our economy stronger. listen, with so many challenges that are ahead of us, the american people need to see us act courageously, think selflessly and lead boldly and our majority is up to the task and i expect the president is as well. >> good afternoon. we wept through a tough week last week as a party, but clearly the house majority is intact and we are strong. i have never been prouder of my colleagues than i am for having stood strong for the things that we believe in. i'm especially proud of paul ryan that took the charge across the nation of the kind of a solution-on the parted agenda we have been about for the last two years. as the speaker said, we stand to do right for the people of this country to extend our hands to say yes, we want to help those who are in trouble, those who are having tough times and we want to help people in this country get back t
i have outlined a framework for how both parties can work together to avert the fiscal cliff without raising tax rates and through a combination of pro-growth tax reform and entitlement reform, we can bring jobs home and make our economy stronger. listen, with so many challenges that are ahead of us, the american people need to see us act courageously, think selflessly and lead boldly and our majority is up to the task and i expect the president is as well. >> good afternoon. we wept...
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Dec 28, 2012
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caller: nobody should worry about the fiscal cliff. asey have everybody's ira's hostage. ira will have to buy ies.sur they are not worried about the budget. everybody that has an ira basically it will have nothing because interest rates will go up so high on the treasury bills in the coming decade. be heldy's ira will hostage. i took money and i put it into gold. i did not pay any taxes on it. possession is 9/10 of the law. let them come and find it. every politician should not take a paycheck. they do not deserve it. they have been bringing our country down. host: in look at what happened 1st.ing jan. uary host: that will happen in january 1 if congress fails to reach a compromise, even a short-term compromise. dan on the phone from massachusetts. caller: thank you for taking my call. i would like to know how many millionaires there are in this country versus the number of people who make $250,000 and less. i think that's where the argument can bw won e won. john boehner is making a calculation and i think that is a poor population. we should roll back the reagan tax cut
caller: nobody should worry about the fiscal cliff. asey have everybody's ira's hostage. ira will have to buy ies.sur they are not worried about the budget. everybody that has an ira basically it will have nothing because interest rates will go up so high on the treasury bills in the coming decade. be heldy's ira will hostage. i took money and i put it into gold. i did not pay any taxes on it. possession is 9/10 of the law. let them come and find it. every politician should not take a paycheck....
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Sep 19, 2012
09/12
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we have a fiscal cliff in which middle-class families don't know what their tax rates are going to be after january. we have physician fees under the medicare program which again fall off a cliff on january 1. with all of these issues hanging out there, we still don't have a republican leadership in the house which has made the decision to go home on friday for the next seven weeks. again, coach lombardi had a right, winners never quit and quitters never win. this leadership is quiting, not only on the members that are prepared to roll up their sleeve and compromise and get the farm bill and postal bill and budget matters to get done once and for all, this is unacceptable leadership for the public trust which they have been given. this morning's "new york times" has a story, "congress nearing the end of the session where congress impeded output." they showed the numbers. this is the least productive congress in half a century. harry truman campaigned against the do-nothing congress. as of this week, this congress has enacted 173. a quarter of the do-nothing congress which harry truman
we have a fiscal cliff in which middle-class families don't know what their tax rates are going to be after january. we have physician fees under the medicare program which again fall off a cliff on january 1. with all of these issues hanging out there, we still don't have a republican leadership in the house which has made the decision to go home on friday for the next seven weeks. again, coach lombardi had a right, winners never quit and quitters never win. this leadership is quiting, not...
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Nov 15, 2012
11/12
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i have outlined a framework for how both parties can work together to avert the fiscal cliff without raising tax rates and through a combination of pro-growth tax reform and entitlement reform, we can bring jobs home and make our economy stronger. listen, with so many challenges that are ahead of us, the american people need to see us act courageously, think selflessly and lead boldly and our majority is up to the task and i expect the president is as well. >> good afternoon. we wept through a tough week last week as a party, but clearly the house majority is intact and we are strong. i have never been prouder of my colleagues than i am for having stood strong for the things that we believe in. i'm especially proud of paul ryan that took the charge across the nation of the kind of a solution-on the parted agenda we have been about for the last two years. as the speaker said, we stand to do right for the people of this country to extend our hands to say yes, we want to help those who are in trouble, those who are having tough times and we want to help people in this country get back t
i have outlined a framework for how both parties can work together to avert the fiscal cliff without raising tax rates and through a combination of pro-growth tax reform and entitlement reform, we can bring jobs home and make our economy stronger. listen, with so many challenges that are ahead of us, the american people need to see us act courageously, think selflessly and lead boldly and our majority is up to the task and i expect the president is as well. >> good afternoon. we wept...
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Dec 11, 2012
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we are talking about domestic spending and what is on the table in the so-called fiscal cliff talks. charles clark is our guest. the me show you what president obama had to say yesterday in michigan. where he is on the tax rates. [video clip] when you put it all together, if you need a package that kids taxes where they are for middle- class families -- that keeps taxes where they are for middle- class families, make some cuts some things we do not need, and then asked wealthier americans to pay a slightly higher tax rate. that is a principle but i will not compromise on because i will not have a situation where the wealthiest among us, including folks like me get to keep our tax rates, and then we are asking students to pay higher student loans, were suddenly, a school does not have school books because the school district cannot afford it, or some family with a disabled kid is not getting the help they need through medicaid. host: here is how the speaker's office responded yesterday -- host: amy. indiana. you are up first. caller: good morning, mr. clark. 019 look at the spending a
we are talking about domestic spending and what is on the table in the so-called fiscal cliff talks. charles clark is our guest. the me show you what president obama had to say yesterday in michigan. where he is on the tax rates. [video clip] when you put it all together, if you need a package that kids taxes where they are for middle- class families -- that keeps taxes where they are for middle- class families, make some cuts some things we do not need, and then asked wealthier americans to...
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Nov 28, 2012
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this is another part of these fiscal cliff talks, that is looking at dividends and the tax rate cut that was put in place under the bush administration for dividends. and we'll take a look at that in our series. but just want to get your take on this headline this morning. what are these companies doing? what's going on here? guest: the value of a dividend is not how much the dividend is but it's how much the dividend is after you pay taxes on the dividend. and if the bush tax cuts are not extended, then the value of a dividend next year will be less than it is this year. and this is important for janine investors, of course, but it's also more importantly important for usually the big owners, the families that own big companies like wal-mart and they usually get their income and their lives through dividends from their companies. and they'll have to pay a lot more taxes if they wait until next year. so for quite obvious reasons they want to pay themselves this year rather than next. host: so this is considered income. guest: yes. host: aurora, colorado, independent caller. caller: hi. i
this is another part of these fiscal cliff talks, that is looking at dividends and the tax rate cut that was put in place under the bush administration for dividends. and we'll take a look at that in our series. but just want to get your take on this headline this morning. what are these companies doing? what's going on here? guest: the value of a dividend is not how much the dividend is but it's how much the dividend is after you pay taxes on the dividend. and if the bush tax cuts are not...
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Sep 28, 2012
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we need a fiscal policy. this fiscal cliff is also very dangerous. you have tax cuts which will expire at the end of the year when spending programs will expire. americans will face -- those people in the metal in terms of income -- they will face the highest tax increase since world war ii. that will happen in january 1 unless these guys get together and do some kind of a grand bargain or an extension. there is such hatred and they cannot make a deal. the tax cuts will expire. the spending programs expiring is another problem. there are federal programs for health care companies, they get federal dollars so they can do those programs. those programs are going away january 1. they will have to notify employees that their jobs are cut. a host of layoffs at year and as a result of ignoring the fiscal cliff. that is why there is some much talk about it. we're walking on shaky ground. the president has not been able to provide the leadership required to get these groups together, the right and the left. part of the job of the commander in chief has to be
we need a fiscal policy. this fiscal cliff is also very dangerous. you have tax cuts which will expire at the end of the year when spending programs will expire. americans will face -- those people in the metal in terms of income -- they will face the highest tax increase since world war ii. that will happen in january 1 unless these guys get together and do some kind of a grand bargain or an extension. there is such hatred and they cannot make a deal. the tax cuts will expire. the spending...
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Nov 24, 2012
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the fiscal cliff elapsing tax cuts. the second piece is the sequestration. $100 billion a year being sequestered from the increases in the budget. these are not cuts the way you or i think of cuts. these are budget increasing not as rapidly as the various agencies will buy them to. the $2 billion of that is out of national defense and $30 billion of that at the domestic discretionary -- $50 billion of that is out of national defense and $50 billion of that is domestic discretionary. will the republicans keep obama on a short leash and give him an allowance every month in return for better behavior or will they give him a debt ceiling that goes along time? what will happen? one option is looked to history. two years ago we faced exactly this situation, the 2001 2003 tax cuts all lapsed. we had a republican house coming in, and democratic senate and democratic president. why would that not the way you do? obama says i will hold my breath until i turn blue and stamp my feet. 2 years ago he said he did not want to raise tax
the fiscal cliff elapsing tax cuts. the second piece is the sequestration. $100 billion a year being sequestered from the increases in the budget. these are not cuts the way you or i think of cuts. these are budget increasing not as rapidly as the various agencies will buy them to. the $2 billion of that is out of national defense and $30 billion of that at the domestic discretionary -- $50 billion of that is out of national defense and $50 billion of that is domestic discretionary. will the...
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Dec 22, 2012
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they are talking about, can we get past where we are in the fiscal cliff. host: we are talking with steph en dinan, the political politics as a at the washington times. but our next call comes from cal in tennessee on our republican line. caller: the tax increases are not enough. when you look at 1 $3 trillion over 10 years -- this president over the last -- when you look at $1.30 trillion olver 10 years -- over 10 years, we have spent $4.60 trillion or $4.70 trillion every year. what we need is more cuts in programs so we actually have more. we need $4.60 trillion in cuts to programs. if we are going to be back on the fiscal plan we honestly need. this president was elected by people who were already democrats in 2008 and 2012. he did not have a hard time getting reelected. we made a mistake about electing this guy for sure. guest: the caller has a lot of good numbers. these are rough, but about $2.30 trillion in revenue. last, we only had $1 trillion in deficits. his point is correct. the problem is you have the government taking in 60% of gross domestic
they are talking about, can we get past where we are in the fiscal cliff. host: we are talking with steph en dinan, the political politics as a at the washington times. but our next call comes from cal in tennessee on our republican line. caller: the tax increases are not enough. when you look at 1 $3 trillion over 10 years -- this president over the last -- when you look at $1.30 trillion olver 10 years -- over 10 years, we have spent $4.60 trillion or $4.70 trillion every year. what we need...
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Dec 21, 2012
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. >> the debt ceiling for 2011 creted the fiscal cliff moment, barber ra tax cuts will go away, tax rates will rise on capital gains and state taxes as well. what's in addition to that too it appears the automatic spending cuts will take place, that's $50 billion from military spending and 50 billion from other spending. >> my comment is the democrats keep saying that the republicans want to take free lunch away from the children and want to cut this and that. all the republicans are wanting people to do is for people to qualify to get free lunch at school. i work for a gentleman that made over $60,000 a year and his children got free lunch at school. why can't democrats snand that $400,000 is nothing nowadays. there are millions of businesses in this country that have to pay taxes just like it's earned income if you make over -- there's millions of them that make a million dollars. why do you want to raise taxes on those people. that president of ours doesn't understand economics at all. all he wants to do is tax more so we can spend more. if we can get 3% more in this country getting ch
. >> the debt ceiling for 2011 creted the fiscal cliff moment, barber ra tax cuts will go away, tax rates will rise on capital gains and state taxes as well. what's in addition to that too it appears the automatic spending cuts will take place, that's $50 billion from military spending and 50 billion from other spending. >> my comment is the democrats keep saying that the republicans want to take free lunch away from the children and want to cut this and that. all the republicans...
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Sep 13, 2012
09/12
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government credit rating in 2013 unless congress averts the fiscal cliff. i wish we could turn off sequestration in this c.r. and enact a balanced package of deficit reduction to replace it. unfortunately any serious discussion seems impossible until after the election. as chairman rogers said, in a streamlined c.r., free of any new riders, and negotiated in a bipartisan fashion, i urge my colleagues to support this legislation and i want to commend the chairman for working so hard and being so diligent in his efforts to restore regular order in the appropriation process and i concur in his judgment that we should try to put together an omnibus between now and the holidays in order to get our work done this year and that would be the best course of action rather than waiting until march. again, let's vote for this c.r. and do our work and get it done. thank you, i yield back. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from kentucky. mr. rogers: mr. speaker, the gentleman i will introduce next has served on the def
government credit rating in 2013 unless congress averts the fiscal cliff. i wish we could turn off sequestration in this c.r. and enact a balanced package of deficit reduction to replace it. unfortunately any serious discussion seems impossible until after the election. as chairman rogers said, in a streamlined c.r., free of any new riders, and negotiated in a bipartisan fashion, i urge my colleagues to support this legislation and i want to commend the chairman for working so hard and being so...
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Dec 20, 2012
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not the fiscal cliff but what's going to happen. early next year as a possible downgrade of our credit rating and that's repercussions that we might not recover from. >> "washington journal" is live every day at 7:00 a.m. eastern here on c-span. the u.s. house is about to gavel in. look at the senate side of the u.s. capitol and the flag at half staff in memory of the late senator daniel inouye who died monday at the age of 88. his body is lying in state in the capitol rotunda throughout the day today with a funeral planned for national -- washington's national cathedral tomorrow. you can watch the lying in state coverage on our website at c-span.org. the house coming in next taking up the pending tax hikes and budget cuts of the fiscal cliff. also, the defense authorization conference report. live coverage now on c-span. the speaker pro tempore: the choice will be in order. -- the house will be in order. the chair lays before the house a communication from the speaker. the clerk: the speaker's rooms, washington, d.c., december 20,
not the fiscal cliff but what's going to happen. early next year as a possible downgrade of our credit rating and that's repercussions that we might not recover from. >> "washington journal" is live every day at 7:00 a.m. eastern here on c-span. the u.s. house is about to gavel in. look at the senate side of the u.s. capitol and the flag at half staff in memory of the late senator daniel inouye who died monday at the age of 88. his body is lying in state in the capitol rotunda...
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Nov 8, 2012
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to resolve the fiscal cliff issue. i think the president, and i know his left wing, is certainly holding him to the pledge on the campaign trail that he will let the proper rate expire at the end of the year and intends to hold his own in arguing for that. host: margaret talev, that brings up the mandate question. does he say what george w. bush said, i have political capital and i intend to spend it? guest: if you have it, use it, or what other people say it for you. right now, president obama's game is not to come out of the box, acting takeda, and give republicans -- acting cocky and giving republicans an idea -- a reason to want to stick it to him. he is saying let's get this done. that is what he is serious about, there is no reason to set yourself up as having more leverage than you do. host: margaret talev, and the go to this headline in bloomberg. what does he do on his health care law, if anything? guest: so, it really is a little bit of the congress, and this will play out in fiscal cliff and debt reduction n
to resolve the fiscal cliff issue. i think the president, and i know his left wing, is certainly holding him to the pledge on the campaign trail that he will let the proper rate expire at the end of the year and intends to hold his own in arguing for that. host: margaret talev, that brings up the mandate question. does he say what george w. bush said, i have political capital and i intend to spend it? guest: if you have it, use it, or what other people say it for you. right now, president...
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Nov 18, 2012
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cliff wouldn't take long for congress to fix the tax rate or new tax code and fromcq weekly. redefining republican the larger debate on how to deal with all the red inc. any idea of rethinking the republican proposition on fiscal issues would go against 20 years of parties tax increases that absolutism has fed the partiesen a broad range of issues with stricted a he remembers to fiscal conversion verytive. some say that mean this can be open to other new ideas. thinking part of this over all debate is whether or not to raise the retirement age as a way to bring on the debt. democrats line. good morning. caller: good morning. steve and fellow folks. there were a couple of - i'm against that any reduction of issues with benefits. and there was - at the library of congress there's a couple of things going on that relate to this at the civil war exhibit, there was a phrase that lincoln - he said in lincoln's view the present conflict was ultimately a people's contest. this was made on april 15th 1861. testing whether or not a government based on the consent of the governed could
cliff wouldn't take long for congress to fix the tax rate or new tax code and fromcq weekly. redefining republican the larger debate on how to deal with all the red inc. any idea of rethinking the republican proposition on fiscal issues would go against 20 years of parties tax increases that absolutism has fed the partiesen a broad range of issues with stricted a he remembers to fiscal conversion verytive. some say that mean this can be open to other new ideas. thinking part of this over all...
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Nov 14, 2012
11/12
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it was a slow, not a fiscal cliff. -- a slope, not a fiscal cliff. >> what actually happens on january 1, in terms of economic impact? >> tax rates go up. that means that people -- tax rates go up. unemployment insurance, the additional federal unemployment insurance expires. the temporary payroll tax cut expires. longtime unemployed workers who lose an average of $300 a week. people see a reduction in their take-home pay. it is a weekly amount or a bi weekly amount or a monthly amount. you do not all of a sudden get a bill for the whole thing. over time, it starts to build up. the alternative minimum tax kicks in and for high income people. that does not happen until they actually file their returns in april. things start slowly. there is plenty of time to work out a smart response. >> bruce, on the tax side, can any of this be fixed retroactively? >> all of it. there is no constraint. that is one reason why i am optimistic about this situation. for at least four years now, hit the main barrier to doing any kind of sensible economic policy, especially related to dealing with the debt
it was a slow, not a fiscal cliff. -- a slope, not a fiscal cliff. >> what actually happens on january 1, in terms of economic impact? >> tax rates go up. that means that people -- tax rates go up. unemployment insurance, the additional federal unemployment insurance expires. the temporary payroll tax cut expires. longtime unemployed workers who lose an average of $300 a week. people see a reduction in their take-home pay. it is a weekly amount or a bi weekly amount or a monthly...
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Apr 1, 2012
04/12
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but if you do it all at once, you have put ben bernanke calls a massive fiscal cliff. you get, according to an economist at barclays capital, a two. % point decline in the rate of growth annualized -- a 2% decline in the rate of growth. the economy is supposed to grow about 3%. we're down to like 0.2% growth rate. in the first quarter of 2013, which is so close to zero it might as will be zero. you run the risk that the economy will shrink. not to say that is automatically a double dip recession, but it would put us in danger of losing a lot of this team we have made over the last few years. host: what is being done about it? guest: ok. well, right now, not too much. president obama producing his fiscal 13 budget. every president does that. the county budget which never gets passed. something happens to it. even if with democrats controlling both houses, he would not get through the budget as he wanted it. but it is a planning document. is this the beginning of a discussion. and then we have the house passing a budget which is very different. really, neither of these p
but if you do it all at once, you have put ben bernanke calls a massive fiscal cliff. you get, according to an economist at barclays capital, a two. % point decline in the rate of growth annualized -- a 2% decline in the rate of growth. the economy is supposed to grow about 3%. we're down to like 0.2% growth rate. in the first quarter of 2013, which is so close to zero it might as will be zero. you run the risk that the economy will shrink. not to say that is automatically a double dip...
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Nov 9, 2012
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if they do not solve the fiscal cliff, there is economists tell us a recession in the first part of 2013. if they punted down the road, the bond credit rating agencies tell us they will lower the bond rating with consequences. it is not just whether they can agree, it is how the larger movers, the economy and key players in it, respond as well. host: frank, an independent caller. caller: when interest rates go up, we will be in a deal. i think obama was reelected and i will congratulate him, but i will tell you something, we are doomed because we are overspending. it does not tell us anything the that we have not really known. we have created an entitlement society. that is why he was reelected. he has too many people looking for handouts. they have lost all of their individual pride. as a nation we have changed dramatically. instead of standing up and doing what is right for ourselves and for our country, we're helping our country will pay for everything on the markets. i think we are doomed in the next year. host: on interest rates going up, when does that happen? he said that is when
if they do not solve the fiscal cliff, there is economists tell us a recession in the first part of 2013. if they punted down the road, the bond credit rating agencies tell us they will lower the bond rating with consequences. it is not just whether they can agree, it is how the larger movers, the economy and key players in it, respond as well. host: frank, an independent caller. caller: when interest rates go up, we will be in a deal. i think obama was reelected and i will congratulate him,...
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Dec 30, 2012
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part of the fiscal cliff is that congress has not done the doc- fix, which is indexed the reimbursement rates on medicare. a 27% reduction and general one if it is not reduced. that means any health care provider providing health care to patients on medicare will have to reduce their services. it will be fixed or attractively, if not before. host: that is the health care law, the charts -- "the new york times" talks about what happens immediately in terms of tax increases. they are talking about payments to medicare providers fallen by 27% if nothing is done in the fiscal cliff action going on. --, while i have you, i want your thoughts -- how much of that sentiment are you seeing out there? guest: a see a lot of it. as a grass-roots organization, we hear from people all across the country. we talk about reducing deficits and having a responsible budget for 20 years. this is actually, it will you go over the cliff and nothing changes, the largest single day of the deficit reduction in world history. it is $600 billion in deficit reduction trust by the turn in the calendar. over the long
part of the fiscal cliff is that congress has not done the doc- fix, which is indexed the reimbursement rates on medicare. a 27% reduction and general one if it is not reduced. that means any health care provider providing health care to patients on medicare will have to reduce their services. it will be fixed or attractively, if not before. host: that is the health care law, the charts -- "the new york times" talks about what happens immediately in terms of tax increases. they are...
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Nov 19, 2012
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we are talking about the fiscal cliff and the national debt. we have separate phone lines for democrats and republicans and independents. we look forward to hearing from all of you. we will also get some tweets for david walker, founder and ceo of the comeback america initiative. guest: it's a 501 (c)(3) nonprofits that focuses on citizen education engagement with regard to federal, state, local fiscal challenges and trust to come up with non- partisan solutions that ought to be able to gain bipartisan support to put our finances in order. host: we have been talked about the deadline at the end of december. what is a short-term solution to avoiding the fiscal cliff? guest: there are certain things scheduled to expire that should be allowed to expire. the 2% payroll tax deduction. that was intended to be a temporary stimulus. set a bad president. 99 weeks is enough for unemployment benefits. we have extended that several times and it was appropriate, but that's enough. -- the two% payroll tax deduction was a temporary stimulus and it sets a bad
we are talking about the fiscal cliff and the national debt. we have separate phone lines for democrats and republicans and independents. we look forward to hearing from all of you. we will also get some tweets for david walker, founder and ceo of the comeback america initiative. guest: it's a 501 (c)(3) nonprofits that focuses on citizen education engagement with regard to federal, state, local fiscal challenges and trust to come up with non- partisan solutions that ought to be able to gain...
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Jul 16, 2012
07/12
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he is expected to talk about the so-called fiscal cliff and the manipulation of international libor lending rates. we will have the testimony live tomorrow here on c-span at 10:00 a.m. eastern. a draft proposal from senate democrats would keep income tax rates which currently are for families earning below $250,000 year and individuals making less than $200,000. president obama has proposed. democratic aides said the senate will debate the legislation as early as next week. the associated press writes that republicans say the increase will hinder job creation are virtually certain to derail the measure by forcing democrats to produce 60 votes to prevail, which they will not be able to do. when the debate occurs, republicans are expected to offer their own measure extending tax cuts for the entire year for everyone. >> pandora is personalized internet radio. behind the scenes, panasonic has a wide array of products. >> you can think of it as computer hot glue gun -- you extruded through the heater and labor -- layer by layer. >> a look at the latest in technology and technology -- technology
he is expected to talk about the so-called fiscal cliff and the manipulation of international libor lending rates. we will have the testimony live tomorrow here on c-span at 10:00 a.m. eastern. a draft proposal from senate democrats would keep income tax rates which currently are for families earning below $250,000 year and individuals making less than $200,000. president obama has proposed. democratic aides said the senate will debate the legislation as early as next week. the associated press...
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Nov 8, 2012
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princeton young says going over part of the fiscal " read a cliff -- fiscal cliff would cost more than 70,000 jobs. it also confirmed many of those hit with a rate increase will be small business owners, the very people who both parties acknowledge are that he to private sector job creation. there is an alternative. it involves making real changes to the financial changes and reforming our tax code to curb special interest loopholes and deductions. by working together in creating a cleaner tax code, we can get our country is stronger, healthier economy. that means more revenue, which is what the president wants. because the american people expect us to find common ground, we are willing to except additional revenue by way of tax reform. there is a model that supports economic growth. in 1986, with a democrat house, and a republican president named ronald reagan. in 1986, there were skeptics who doubted the economic benefits of tax reform. those skeptics were wrong. a stanford economist said the 1986 reform is the sort of an unsung hero of the good economic times we have had for a long
princeton young says going over part of the fiscal " read a cliff -- fiscal cliff would cost more than 70,000 jobs. it also confirmed many of those hit with a rate increase will be small business owners, the very people who both parties acknowledge are that he to private sector job creation. there is an alternative. it involves making real changes to the financial changes and reforming our tax code to curb special interest loopholes and deductions. by working together in creating a cleaner...
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Dec 29, 2012
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what happens if we go over the fiscal cliffs or even we get the type of deal that the president is looking for? what we are talking about is the top individual income-tax rate rising from 35% to 39.6%. that was the same texture that we had before 2001. -- that is the same tax rate that we had before 2001. we do not need to be up at the 75% level. i would not advocate that we go to the 75% level. that is not really where we are. that is not where we need to be. host: we hae a tweet. guest: the payroll tax is basically a fixed percent, at 2% of income. it is capped, so social security tax only accounts for the first 100 dozen dollars of earnings. the benefits are larger or more an important probably for low and middle income working families than they are for higher income families. you have to remember that the payroll tax was a temporary provision. it actually was enacted at the end of 2010 to replace another provision which was even more targeted toward low enand middle income working families. i don't think anybody would dispute that it needs to expire, the question is whether that time
what happens if we go over the fiscal cliffs or even we get the type of deal that the president is looking for? what we are talking about is the top individual income-tax rate rising from 35% to 39.6%. that was the same texture that we had before 2001. -- that is the same tax rate that we had before 2001. we do not need to be up at the 75% level. i would not advocate that we go to the 75% level. that is not really where we are. that is not where we need to be. host: we hae a tweet. guest: the...
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Aug 3, 2012
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assuming that the fiscal cliff goes through, on january 1, they're going to go up to over 40%. this puts them at a huge disadvantage competing around the world. host: 4 people who do not know, small businesses. guest: that is correct. . host: james asked on twitter -- guest: energy is one of our real strengths right now. that's an excellent question preleasing a resurgence on the overall exploration theshale -- exploration of shale and fraacking. the job gains would generate about 1 million manufacturing jobs over the next decade. that comes in two forms. one, lower energy costs on the part of manufacturers. in addition, you're also getting all those jobs which are being generated by the overall exploration of shale. whatever we can do to be able to bring down energy costs, that will help our overall competitiveness and something we have been trying to push for an all of the above approach. host: the next call comes from new york. allen is an independent there. good morning, sir. caller: good morning. i was wondering, you know, the bush tax cuts and everything has been lately i
assuming that the fiscal cliff goes through, on january 1, they're going to go up to over 40%. this puts them at a huge disadvantage competing around the world. host: 4 people who do not know, small businesses. guest: that is correct. . host: james asked on twitter -- guest: energy is one of our real strengths right now. that's an excellent question preleasing a resurgence on the overall exploration theshale -- exploration of shale and fraacking. the job gains would generate about 1 million...
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Nov 17, 2012
11/12
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and the fiscal cliff that we are headed towards provides an opportunity for both parties to change our country's irresponsible spending path. in just over a month, tax rates that have been in place more than a decade are set to increase and automatic, across- the-board spending reductions will kick in, cutting funding for everything from our troops to federal cancer research. failure to stop this combination of tax hikes and arbitrary spending cuts threaten to throw our country's economy back into recession, at a time when millions are still out of work. this is a test we cannot fail. we can reduce the deficit without harming our economy, but it will take bipartisan cooperation to get there. for example, everyone agrees that nearly $500 billion of additional defense cuts stand to hollow out our military and cost jobs. in fact, the president's own secretary of defense has said that these reductions would inflict severe damage to our national defense for generations. our troops and their families are not the only ones who will be impacted. america's private defense stuff suppliers -- def
and the fiscal cliff that we are headed towards provides an opportunity for both parties to change our country's irresponsible spending path. in just over a month, tax rates that have been in place more than a decade are set to increase and automatic, across- the-board spending reductions will kick in, cutting funding for everything from our troops to federal cancer research. failure to stop this combination of tax hikes and arbitrary spending cuts threaten to throw our country's economy back...
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Nov 10, 2012
11/12
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the question of are we going off the fiscal cliff or are we not -- why don't you start, norm. >> since you did mention foxes, i wanted to start by congratulating karl rove and dick morris for their spot-on analysis -- since you did mention fox news. i did want to talk about david axelrod had the line of the year who said, "i had a foot in my mouth many times in my life, but it has always been my own." i think that takes care of dick morris. let me start by noting the lame duck session is also going to attempt to do other things. there are other things to clean up. one is the farm bill. it is something i mentioned because it reflects on the dynamic over the fiscal cliff that here we have an instance in which the senate united in a broad, bipartisan way with, i believe, 74 votes for a farm bill at the time of the worst drought since the great depression with some sense of urgency, particularly because livestock farmers were just in desperate, desperate straits, and the house did nothing. even leading up to an election, did nothing, and it is still hanging fire. they promised to pass the
the question of are we going off the fiscal cliff or are we not -- why don't you start, norm. >> since you did mention foxes, i wanted to start by congratulating karl rove and dick morris for their spot-on analysis -- since you did mention fox news. i did want to talk about david axelrod had the line of the year who said, "i had a foot in my mouth many times in my life, but it has always been my own." i think that takes care of dick morris. let me start by noting the lame duck...
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Nov 4, 2012
11/12
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with the fiscal cliff, are a lot of government workers who live in virginia. with the potential spending cuts and defense cuts coming, it is making employers shaky about hiring. host: if you look at manufacturing in pennsylvania, it mirrors ohio in terms of the employment rate. have you looked at that states? guest: the unemployment rate has not moved a lot. that could be one reason why voters are still trying to decide who to votes 4. right now it is -- that could be one reason why voters are still trying decide who to vote for. construction is still very slow there. host: our focus on the -- is the battle ground states and how the economy is playing out in the states that will determine whether the president is reelected or whether mitt romney is elected as our 45th president. you can join us on our twitter page or send us an e-mail. over the weekend, some new web videos, looting this from the obama campaign. [video clip] >> if obama doesn't win and i did not help, i could not live with myself. >> we have to do it. >> if you are willing to stick with me, if
with the fiscal cliff, are a lot of government workers who live in virginia. with the potential spending cuts and defense cuts coming, it is making employers shaky about hiring. host: if you look at manufacturing in pennsylvania, it mirrors ohio in terms of the employment rate. have you looked at that states? guest: the unemployment rate has not moved a lot. that could be one reason why voters are still trying to decide who to votes 4. right now it is -- that could be one reason why voters are...
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Aug 27, 2012
08/12
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cliff if you are dealing with day reelected president and a lame duck president? >> let me begin with this -- the house passed an extension of the current tax rates for one-year. we've got time to real tax reform next year. second, they sequester the president imposed on us, the house is acted to replace the next year or two of that sequestered with a bill we passed in may with $316 billion of reductions in the next 10 years. the house has done his -- the house has done its work and now it's time for the senate to do theirs. i don't know whether they are going to act or not act. but at some point, things like regular order matter and i think it's time for the senate to move a bill that hopefully we can resolve before the end of the year. >> thank you. the republican platform is circulating about with different copies of online and in print. based on the report you have seen, is this a good document to run on a fully and in particular, the parts about auditing the federal reserve and at the review of government agencies as to their efficiency without calling for sh
cliff if you are dealing with day reelected president and a lame duck president? >> let me begin with this -- the house passed an extension of the current tax rates for one-year. we've got time to real tax reform next year. second, they sequester the president imposed on us, the house is acted to replace the next year or two of that sequestered with a bill we passed in may with $316 billion of reductions in the next 10 years. the house has done his -- the house has done its work and now...
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Dec 7, 2012
12/12
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cliff. we will show you that when the happens. by now, a little bit more about the fiscal cliff. >> we turn our attention this morning about unemployment benefits and how insurance could back -- how insurance could be impacted. thank you for coming in. we want to start the discussion. when we're talking about unemployment insurance, what specific programs are we talking about here? >> unemployment insurance is the combination of federal and state programs. it usually lasts up to six weeks. it can be extended up to 93 weeks, depending on which they were in. it is this extension that we're really talking about as part of the fiscal cliff. >> that is what might be cut. that is what automatically expires. we know it cost $30 billion to continue additional unemployment benefits. of the deal i want to make, the benefits should continue. firm stand. we have seen in the past obama host: what specific benefits do guest: usually some kind of a cash benefit or they may help the search for a job. it is
cliff. we will show you that when the happens. by now, a little bit more about the fiscal cliff. >> we turn our attention this morning about unemployment benefits and how insurance could back -- how insurance could be impacted. thank you for coming in. we want to start the discussion. when we're talking about unemployment insurance, what specific programs are we talking about here? >> unemployment insurance is the combination of federal and state programs. it usually lasts up to six...